Gate News reports that on March 18, U.S. Senate Banking Committee Chairman Tim Scott stated that progress is expected this week on disagreements over stablecoin yield payment terms, which have previously hindered the advancement of the cryptocurrency market structure bill. Scott said he anticipates receiving the first compromise proposal soon and is optimistic about reaching an agreement in the near term.
The bill aims to clarify the regulatory framework for cryptocurrencies in the U.S., including the division of responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). Previously, the House passed a similar “CLARITY Act,” but the Senate version has stalled over issues related to stablecoin yield mechanisms.
The controversy centers on whether third-party platforms should be allowed to offer stablecoin yields to users. Banking groups argue that such yield models could weaken the appeal of traditional deposits and impact financial stability, while the crypto industry counters that these restrictions are clearly anti-competitive and hinder innovation.
Tim Scott pointed out that while stablecoin yield issues are the most prominent, they are not the only obstacles. Negotiations also involve the scope of regulation, decentralized finance (DeFi) rules, and legislative ethical frameworks. He noted that progress has been significant over the past month, with many issues gradually narrowing differences.
Legislatively, since the bill involves multiple regulatory agencies, it must be reviewed jointly by the Senate Banking Committee and the Agriculture Committee. The Agriculture Committee has advanced related texts in January this year, while the Banking Committee had previously delayed discussions, slowing the overall process.
Market analysts believe that reaching an agreement on the stablecoin regulatory framework would provide clearer policy expectations for mainstream assets like Bitcoin and Ethereum, and could have a profound impact on the stablecoin market structure and liquidity landscape. Currently, U.S. crypto legislation is at a critical juncture, and policy directions are closely watched.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
MicroStrategy Stock Rallies as Bitcoin Breaks $78K, Unrealized Gains Return to $1.37B
MicroStrategy's stock surged 13.83% as Bitcoin reclaimed $78,000, returning the company to an unrealized profit of $1.37 billion. The rise follows easing tensions in the Middle East and a broader rally in risk assets, despite criticism of its preferred stock.
GateNews10m ago
Morgan Stanley Purchases 177.76 BTC Worth $13.75 Million
Gate News message, Morgan Stanley bought 177.76 BTC worth $13.75M three hours ago. The firm now holds 1,347.54 BTC worth $103.94M in total.
GateNews2h ago
BTC fell below 77000 USDT
Gate News bot message, Gate quotes show that BTC fell below 77000 USDT, trading at 76961.6 USDT.
CryptoRadar3h ago
NYSE Welcomes Morgan Stanley’s MSBT Launch as First Spot Bitcoin ETF Issued by a Major US Bank
Bank-backed bitcoin ETFs are accelerating institutional adoption and strengthening market credibility. The NYSE marked a new milestone as Morgan Stanley Investment Management rang the closing bell and celebrated the launch of MSBT, which the NYSE described as the first spot bitcoin ETF by a major
Coinpedia7h ago
BTC falls 0.49% in 15 minutes: fragile long leverage and active sell-off pressure resonate to weigh on the short term
From 18:00 to 18:15 (UTC) on 2026-04-17, the BTC price fluctuated and trended downward within the 77097.4 to 77573.2 USDT range. Over these 15 minutes, the return rate recorded -0.49%, and the amplitude reached 0.61%. During this period, market trading was active; short-term volatility was amplified, and trading attention increased significantly. The main driver behind this abnormal move is that the overall leverage structure is bearish and long positions are fragile. At present, the BTC perpetual contract funding rate has remained negative for 11 consecutive days, indicating that the bears have the upper hand in the market. In addition, futures open interest (OI) is about 628.3 billion USDT, which is at a historical high. During the anomaly window, trading volume increased noticeably. On-chain data shows large amounts of BTC flowing from long-term holder addresses to exchanges, suggesting that active sell orders may have triggered longs to passively reduce positions, amplifying downward price pressure. Moreover, institutional positioning enthusiasm in the mainstream contract market has cooled off; liquidity boundaries have tightened, causing large-trade activity to have an amplified effect on market volatility. In the options market, implied volatility rose to 39.81%, increasing demand for downside protection and reflecting a defensive posture among market participants. Macro-environment volatility and some capital flowing into safe-haven assets, together with the recent regulatory uncertainty-related historical events, reinforced the move, pushing overall market risk appetite lower. Current BTC leverage risks still remain. If, in the future, there are concentrated sell-offs, volatility may be further amplified. It is recommended to continue monitoring sustained high OI levels, the persistence of negative funding rates, and on-chain transfers of large amounts of funds, and to stay alert for whale behavior and any disruptions to market sentiment caused by macro-policy developments. For subsequent price action, please watch key support levels, institutional and whale on-chain moves, and relevant global market news, and guard against short-term risks.
GateNews8h ago
